Politics

Head of Nigeria’s legislature comes under probe in Seychelles-Report

Authorities in Seychelles have opened a criminal investigation into the multi-million dollar assets which Senate President Bukola Saraki and his wife, Toyin, are believed to hold through offshore shell companies in tax havens, PREMIUM TIMES can report

Published

6 years ago

June 22, 2018

Africa News Watch

Bukola and Toyin Saraki are being targeted by financial intelligence operatives for their “suspicious” use of offshore shell companies as uncovered in the Panama Papers investigation published in 2016, according to new records obtained by the International Consortium of Investigative Journalists and shared with PREMIUM TIMES and other partners.

Investigators at the Seychelles Financial Intelligence Unit said they are interested in determining whether or not Mrs Saraki stood as a front for her husband in the ownership of some of the offshore holdings linked to the family when a trove of offshore assets managed by Panamanian law firm, Mossack Fonseca, was leaked to the media.
The investigators are also working to determine if the transactions undertaken with the shell companies were used to launder funds or carry out other suspicious activities.

Two weeks after the Sarakis were exposed as owning undeclared offshore assets in violation of Nigeria’s code of conduct regulations, detectives from that country’s FIU asked Mossack Fonseca to furnish them with all documents relating to Sandon Developments Ltd, a firm registered in Seychelles under Toyin Saraki’s name.

Mossack Fonseca responded to the request on April 29, 2018, by forwarding a link to the PREMIUM TIMES article on the Panama Papers as well as all documents relating to Sandon Ltd, including international passports and business activities.

The status of the investigation, however remained unclear as there is no record of any update about it since Mossack Fonseca responded to the authorities’ requests at the end of April 2016.

Mrs Saraki registered Sandon Ltd in 2011 and used it to buy a family property at #8 Whittaker Street, Belgravia, London SW1W 8JQ.

Mr Saraki denied links to the offshore assets in 2016, saying they belonged to his wife’s family. But information obtained by PREMIUM TIMES at the time indicated that the Senate President merely used his wife as a front, and Seychelles authorities also found the denial unconvincing.

The revelations were amongst the findings of a lengthy investigation by the International Consortium of Investigative Journalists, German newspaper Süddeutsche Zeitung and more than 100 other global news organizations – including PREMIUM TIMES.

Related Topics:Bukola Saraki Head of Nigeria’s legislature Mossack Fonseca Mrs Saraki Nigeria Seychelles

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Politics

Ivory Coast: Ex-minister challenges ex-Credit Suisse boss Thiam for presidency

Published

58 mins ago

October 26, 2024

Ifeoluwa Dada

Jean-Louis Billon, the former commerce minister of Ivory Coast, announced on Friday that he would challenge party head and former CEO of Credit Suisse, Tidjane Thiam, for the opposition PDCI party’s candidacy in the country’s 2025 presidential election.

The PDCI party, which dominated Ivory Coast from independence until the late 1990s but has had difficulty regaining power because of internal strife, may become even more divided due to Billon’s choice to run.

Thiam just won the PDCI leadership contest and returned to the country that produces the most cocoa worldwide.

His triumph stoked rumours that he may challenge or succeed President Alassane Ouattara. Neither man has made an official announcement about his plans.

Historically, the PDCI’s presidential candidate has been the organization’s leader.

The 59-year-old Billon was Ouattara’s trade minister and the former head of SIFCA, Ivory Coast’s leading agro-industrial organisation. In order to fairly choose the party’s presidential candidate, he demanded that a PDCI convention be held.

“I hope that this convention will be democratic, honest, and transparent, with no tricks or favouritism, no violence, and free from any tribal bias,” Billon said in a statement

Politics

Sources suggest Sahel jihadis finding safety in Ghana

Published

2 days ago

October 24, 2024

Ifeoluwa Dada

According to seven sources cited by Reuters, Islamist militants in Burkina Faso are covertly utilising Ghana’s north as a medical and logistical rear camp to maintain their insurgency. This could allow them to increase their presence in West Africa.

According to the sources, which include regional diplomats and Ghanaian security officials, Ghanaian authorities seem to be largely ignoring the insurgents who are crossing over from neighbouring Burkina Faso to obtain food, fuel, and even explosives, as well as to receive medical attention for wounded fighters.

However, they said that strategy runs the risk of enabling terrorists to establish themselves in Ghana and recruit in some marginalised local areas, even though it has so far spared the country from the kind of devastating Islamist attacks that have afflicted its neighbours.

Ghana and Burkina Faso, which is at the centre of an insurgency that has killed thousands, displaced millions, and, according to some experts, made the Sahel region the epicentre of global terrorism as groups loyal to al Qaeda and Islamic State increase their presence, share a 600-kilometre (372-mile) border.

With the rise of JNIM, a pro-al Qaeda organisation, Burkina Faso has lost control of more than half of its territory. This week, a JNIM senior told French station RFI that the organization’s goal was to expand into Ghana, Togo, and Benin. Unlike Benin and Togo, Ghana has not experienced a significant attack.

Ghana’s ambassador to Burkina Faso, Boniface Gambila Adagbila, told Reuters that the militants were exploiting Ghana’s open borders and viewed the country as a “haven.”

However, he refuted claims that the government had inadvertently reached a non-aggression pact with the jihadists.

According to him, Ghana and Burkina Faso were collaborating to “flush them out”.

Since the beginning of October, attacks on companies have resulted in at least three fatalities and four injuries, according to an official.